“We have been close [to the end] for a number of months,” he tells Yahoo.

Long-term U.S. bond yields across different categories are a little higher than 2 percent. So unless the United States turns into Japan, where yields have dropped to 1 percent, U.S. yields are close to a bottom, Gross says.

The price risk isn’t great for Treasurys, and most of it is at the long end of the yield curve, Gross says. So he recommends that investors “center your concentration at five to seven years.”

Many Treasurys traders have turned bearish after the biggest weekly price drop in eight months.

“The data is strong enough not to warrant further assistance” from the Federal Reserve, Sean Murphy, a trader for Societe General, tells Bloomberg. “I don’t think the backdrop is particularly supportive for Treasurys.”